KKR Alternative Assets LLC filed a Form 4 on September 18, 2026, disclosing that it contributed 1,933,109 Class I shares of KKR Real Estate Select Trust Inc. common stock to the issuer for no consideration, with the shares to be permanently cancelled.

Key Highlights

  • Transaction date: September 16, 2026, with the earliest transaction date listed as 09/16/2026.
  • Shares disposed: KKR Alternative Assets LLC disposed of 1,933,109 shares of Class I Common Stock, par value $0.001 per share, via transaction code J.
  • No consideration: According to the filing, the shares were contributed to the issuer for no consideration and will be permanently cancelled.
  • Remaining beneficial ownership: Following the transaction, 9,866,525.787 shares of Class I Common Stock are reported as beneficially owned indirectly by the reporting person.
  • Agreement cited: The contribution was made pursuant to an amended and restated Shareholder Priority Plan and NAV Support Agreement entered into on September 1, 2026.
  • Multiple reporting persons: Ten reporting persons are named, including KKR Alternative Assets LLC, several KKR affiliated entities, and Henry R. Kravis and George R. Roberts as founding partners of KKR Management LLP.

KKR Alternative Assets Cancels Shares Under NAV Support Agreement

According to the filing, KKR Alternative Assets LLC transferred 1,933,109 Class I shares of KKR Real Estate Select Trust Inc. (ticker: NONE, as listed in the filing) to the issuer on September 16, 2026, under transaction code J. The shares carry a par value of $0.001 per share and were contributed for no consideration. The filing states that "this Common Stock will be permanently cancelled by the Issuer."

The filing identifies the legal basis for the transaction as an amended and restated Shareholder Priority Plan and NAV Support Agreement, entered into on September 1, 2026. Following the disposal, the filing reports 9,866,525.787 shares of Class I Common Stock as indirectly beneficially owned by KKR Alternative Assets LLC. The ownership is described as indirect, and the filing includes a chain of entities: KKR Group Assets Holdings II L.P. is the sole member of KKR Alternative Assets LLC, with KKR Group Assets II GP LLC serving as the general partner of that entity, and the chain continuing up through KKR Group Partnership L.P., KKR Group Holdings Corp., KKR Group Co. Inc., KKR & Co. Inc., and KKR Management LLP. Henry R. Kravis and George R. Roberts are identified as the founding partners of KKR Management LLP.

All ten reporting persons, including Kravis and Roberts, are listed as 10% owners of KKR Real Estate Select Trust Inc. The filing also notes that "each of the Reporting Persons disclaims beneficial ownership of the securities reported herein, except to the extent of such Reporting Person's pecuniary interest therein."

What Was Disclosed

The filing reports that KKR Alternative Assets LLC contributed 1,933,109 Class I shares of KKR Real Estate Select Trust Inc. to the issuer for no consideration on September 16, 2026, pursuant to a NAV Support Agreement, with the shares designated for permanent cancellation.